You can add either a SATA 6 Gbps PCIe card or a native PCIe SSD.
However, a native PCIe SSD has to use the AHCI protocol (not NVMe!) to work in the 1,1, and there are very few AHCI PCIe SSDs. I have compiled a list of these elusive SSDs
here.
PCIe 1.0 is ≈250 MB/s
per lane, minus overhead. With overhead, I’d say it’s around 200 MB/s
per lane.
If you get a two-lane PCIe SATA 6 Gbps card (don't get a single-lane one — that isn't worth it in the 1,1), you can expect speeds in the 350≈400 MB/s range. The 1,1's internal SATA bus is 300 MB/s (3 Gbps) minus overhead, which usually results in 250≈270 MB/s.
But the fastest option, by far, is to get an AHCI PCIe SSD that uses four lanes. With one of
these, you can expect speeds in the 700≈800 MB/s range. And it will be bootable as well.
No. The maximum speed you can get depends on the number of PCIe lanes your controller uses.